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Can you solve question 2,3,4? Nisha coal company on january 1, 2013, Nisha coal company was granted a petent for one of its products. the

Can you solve question 2,3,4?
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Nisha coal company on january 1, 2013, Nisha coal company was granted a petent for one of its products. the cost of the petent was $80,000 and it was estimated to have a useful life of 8 years. the ledger of the company showed the equipment with a balance of $16,000 and its accumlated depreciation was 5 6.000 with a useful life of 5 years and a salvage value of $ 1.000. On March 31. 2013 the company purchased a delivery truck for $ 16.000 and estimated its useful life to be 3 years and the salvage value to be S 1.000. On November 1.2014 the company purchased a_bui]ding that cost million. tjic estimated useful life of the building is 20 years and the salvage value is expected to be S 60.000. On Dcccmbcr 31. 2014 the company sold the delivery truck that was purchased in 2013 for S 5.000. The company incurred the following expenses in 2013 and 2014: the company paid $ 100 each year for Oil Change for the delivery truck. In 2014. the company paid S 3.000 for Building Maintenance The company paid $ 3.200 annually in 2013 and 2014 tor Equipment Maintenance. You arc required to read the above case and answer the following questions: Journalize the transaction for the patent granted. Rccord the journal entry for building purchase. Record the journal entry for Deprecation expense for year 2013 and 2014 for Equipment, Building and Delivery truck Company uses straight l-r.e depreciation method for us all plant assets, (separate the entries lor 2013 from 2014 . Rccord the journal entry for all the expenses which compan> incurred during 201 ? and 2014. (separate the entries for 2013 from 2014) Rccord the journal entry for sale of Delivery truck. Prepare the Journal entry to record amortization of patent. Patent is an intangible asset. What is your opinionregarding amortization expense for Patent

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